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OIL DEALS: ALLISON MADUEKE, OKONJO-IWEALA, SANUSI LAMIDO SANUSI, SENIOR NNPC OFFICIALS

By Comrade Chris Obiemenyego

OIL DEALS: ALLISON MADUEKE, OKONJO-IWEALA, SANUSI LAMIDO SANUSI, SENIOR NNPC OFFICIALS, COMMERCIAL BANK CHIEFS, OIL-CABAL-IMPORTERS, PPPRA AND DPR SHOULD BE CASTRATED IN JAIL FOR MORE THAN 30 – YEARS BECAUSE THEY ARE ALL INCLUSIVE, LOOTERS OF THE TREASURY AND WORSE THAN ARMED ROBBERS: GOODLUCK JONATHAN DO THIS ONE FOR NIGERIA.

Look at this Table of Historicity of Oil Cabalism in Nigeria

Name of Refinery Year built Year collapsed TAM initiated Government Action
lagos & PH Jetties NNPC & DPR PEF PSP PPMC PPPRA CBN & Commercial Banks Remark
PH 1977 – 1978 1993 – 1996 Failed 100%, money eaten by NNPC staff in collaboration with engineers, Government officials as contractor Both failed 100% because very bad and obsolete Equipment Imported petrol & oil via licensed importers called new Cabals. DPR as regulator is frost with endemic corruption Handed cost of caring imported products from Lagos to other parts of the country via roads “bridging costs” Pays the Cabals cost of bringing in the products into the Country Pipeline Bad & obsolete Pays the cabalas their refund via the banks that funded the cabals. Pays the banks upfront. So connives with PPPRA and barks to undo Nigerians. Pays NPA demurrage. Importers had to approach banks for loans which demanded share of the booty, CBN controlling it. All these agencies faded And failed as looters of the treasury .
PH Onne 1978 – 1979 ,, ,, ,, ,, ,, ,, ,, ,, ,, ,,
Kaduna 1978 – 1979 ,, ,, ,, ,, ,, ,, ,, ,, ,, ,,
Warri 1983 – 1985 ,, ,, ,, ,, ,, ,, ,, ,, ,, ,,


Government is the direct cause of failure of oil refineries. Government has the right to sack, dissolve board, reorganize board and reform the economy. Government created Petroleum Equalization Fund (PEF) Government created Petroleum Support Programmes (PSP)

Government created Department of Petroleum Resources (DPR)

Government created Petroleum Products Marketing Company (PPMC)

Government created Petroleum Products Pricing Regulatory Agency (PPPRA)

Government created Turn Around Maintenance (TAM)

Government created Nigerian National Petroleum Corporation (NNPC)

What a Country called Nigeria;

Government pays bank the money of the marketers as cabals (importers) via PEF and PSP computation which they call Subsidy. Cabals work with NNPC staff and banks to fix their amounts in PEF and PSP. PPPRA ratifies them after ensuring that DPR is paid its dues. NNPC maintains oversight on all of them.

The facilities of at the refineries broke down between 1993-1996. Instead of getting them in order, Government created unnecessary subsidiaries in NNPC; PEF, PSP, PPMC, PPPRA, DPR etc. What for? Who frustrated TAM? Government licensed the cabals called importers who are the marketers, finances them via the banks, pays them shortfalls and inconveniences through PEF and PSP and call it subsidy. The whole thing is laughable.

From this account of what happens in NNPC, the subsidy is a game of deceit by Government licensed agents called cabals who connive with Government officials to rip off Nigerians. It is a racket-game involving: NNPC, cabals, Government Officials as politicians banks, Madueke, Iweala and Sanusi and other banks.

Goodluck should stop deceiving us on oil subsidy. He got excess money through the removal of subsidy and shared it among the stealing Governors and Ministers as ''Palliatives''. Which palliative? What is the meaning of palliative? Who receivers the Palliative? Have I seen or partaken in any palliative? Am I not a Nigerian?

What has any governor done with the money he receives from subsidy removal? Goodluck Jonathan should stop deceiving Nigerians. Petrolum Pump Price has no modicum of right to sell at more than N30 per litre in Nigeria Government should do away with importers and bodies, import directly and distribute to Nigerians.

Comrade Kindness Innocent Jonah is a human rights activist of note, and a national commentator and social critic. Meet him in face book. Also, check these face book accounts: Justice Stand and Nigeria Unity.

080-3666-2901, 080-9595-7698


Your Comment
 
 
 

[email protected] | 5/16/2012 5:54:00 PM
This blanket allegation makes no good! We all know those that milk this nation dry. Dr. Iweala was part of those that is behind the anti-corruption vanguard. We should endeavour to support people like that and not just lumping them together with marauders.